Adtalem Global Education Announces New $300 Million Share Repurchase Program
2024年1月19日 - 10:00PM
ビジネスワイヤ(英語)
The new share repurchase program, which comes
after the completion of the February 2022 Board-authorized $300
Million Share Repurchase Program, reflects the strength of
Adtalem’s Growth with Purpose strategy. Since February 2022 the
company reduced shares outstanding by 23% at an average share
repurchase price of $39.85.
Adtalem Global Education Inc. (NYSE: ATGE), today announced that
its Board of Directors has authorized a new share repurchase
program, which allows Adtalem to repurchase up to $300 million of
its common stock through Jan. 16, 2027.
“We have completed our $300 million February 2022 share
repurchase authorization, capitalizing on the significant intrinsic
value disconnect existing in the market. As a national leader in
post-secondary education and a systemically important component to
the U.S. healthcare system, we are committed to strengthening our
leading market position through operational excellence and
disciplined capital allocation,” said Steve Beard, president, and
chief executive officer, Adtalem Global Education.
Beard continued, “The early returns on our organic growth
strategy – Growth with Purpose – give us confidence in our
long-term outlook. We are generating robust operating cash flow,
enabling our capital allocation strategy. The new $300 million
share repurchase authorization provides flexibility to execute
against it.”
In connection with today’s announcement, Adtalem disclosed that
it completed its February 2022 Board authorized $300 million share
repurchase program on Jan. 16, 2024, representing a significant
return for our shareholders.
Under the February 2022 Board authorized $300 million repurchase
program and prior $163 million accelerated share repurchase (ASR)
program agreement, which concluded on Oct. 14, 2022, Adtalem has
repurchased 11.6 million shares at an average price of $39.85 which
represents a reduction in shares outstanding of 23% against base
shares outstanding as of Feb. 1, 2022. The company has
approximately 39.3 million shares of common stock outstanding as of
Jan. 16, 2024.
Under today’s new share repurchase authorization, the timing and
amount of any repurchase will be determined by management based on
evaluation of market conditions and other factors. These
repurchases may be made through the open market purchases,
accelerated share repurchases, privately negotiated transactions or
otherwise. Any purchases will be at such times and in amounts as
the company has approved in accordance with applicable rules and
regulations. The repurchases will be funded through available cash
balances, ongoing business operating cash generation, and may be
suspended or discontinued at any time.
Adtalem will announce its fiscal 2024 second-quarter results on
Thursday, Feb. 1, 2024, after financial markets close, followed by
a conference call at 4:00 p.m. CT (5:00 p.m. ET) the same day to
discuss the results.
The call can be accessed by dialing +1 877-407-6184 (U.S.
participants) or +1 201-389-0877 (international participants)
stating “Adtalem earnings call” or use conference ID: 13743388. The
call will be simulcast through the Adtalem investor relations
website at: https://investors.adtalem.com.
About Adtalem Global Education
Adtalem Global Education (NYSE: ATGE) is a national leader in
post-secondary education and leading provider of professional
talent to the healthcare industry. With a dedicated focus on
driving strong outcomes that increase workforce preparedness,
Adtalem empowers a diverse learner population to achieve their
goals and make inspiring contributions to their communities.
Adtalem is the parent organization of American University of the
Caribbean School of Medicine, Chamberlain University, Ross
University School of Medicine, Ross University School of Veterinary
Medicine and Walden University. Adtalem’s family of institutions
has more than 300,000 alumni and nearly 10,000 employees. Adtalem
was named one of America’s Most Responsible Companies in 2021 and
2023 by Newsweek and Statista, and one of America’s Best Employers
for Diversity in 2021 and 2022 by Forbes and Statista. Visit
Adtalem.com for more information and follow on Twitter and
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240119984506/en/
Investor Contact Jay Spitzer
Investor.Relations@Adtalem.com +1 312-906-6600
Media Contact Talisha Holmes AdtalemMedia@Adtalem.com +1
872-270-0331
Adtalem Global Education (NYSE:ATGE)
過去 株価チャート
から 8 2024 まで 9 2024
Adtalem Global Education (NYSE:ATGE)
過去 株価チャート
から 9 2023 まで 9 2024